Sunday, April 21, 2013

Why I want YOU to Own a Successful Small Business

Why do I want you to own a successful small business?

Here's my list of 7:

  1. So you can go to your kids baseball games. You can control your time and not be controlled by someone else's schedule. Boss "Hey John, get on a plane and spend next week in Portland."  John, "Next week is my kids birthday party." Boss, "Sorry about that but you have to be there."
  2. So you can make your community a better place by supporting good causes that effect your neighbors. 
  3. So you can provide the services and products the community wants instead of decisions for Omaha being made in New York.
  4. So you can provide jobs for your friends, neighbors and family.
  5. So your kids can feel the security of a home that's in control of it's future and your kids don't hear you and your spouse talking about the layoffs that might be coming.
  6. So that you can have the security of being in control of your future
  7. So that I can buy products and services from my neighbors.

Please add your reasons in the comments section so we can move forward local small businesses in our communities

What's the Value of a Small Business?  Here's your easy to use guide to Small Business Value.

Sunday, April 7, 2013

Common Characteristics of Profitable Businesses

As a Business Broker I've had the opportunity to meet with and analyze more than 2,000 businesses. I have come to discover that there are 6 basic characteristics that are almost always found in profitable businesses.

6 Characteristics of Profitable Businesses:

  1. The business owner has an firm grip on reality. They understand the good and the bad of their industry and their business.
  2. The business owner spends the money to get good advice. They have an accountant, attorney and financial adviser that is competent in the specific industry and size business.
  3. The business owner makes a good faith effort to have systems and procedures in place so that their product or service experience is repeatable. The vast majority of activity is done the same way each time. 
  4. The business owner is always trying to find ways to do #3 better.
  5. The business owner doesn't blame his employees and his customers for his results. It is shocking to me how often this is the case in bad businesses.
  6. The business owner owns the business for a reason other than it's just a way to make a living. The owner might want to sell the business to fund their retirement or next venture or pass the business on to their kids or create enough profit to fund a charitable cause important to them or operate a business to allow them enough free time and money to pursue an important cause.
Businesses and business owners with the above characteristics are much more likely to be profitable, more valuable and easier to operate than businesses without these characteristics.

Are there other characteristics that are important to you as a customer? Can you identify businesses with these 6 characteristics?

What's the Value of a Small Business?  Here's your easy to use guide to Small Business Value.

Saturday, April 6, 2013

Sunbelt Completes the Sale of a Specialized Property Management Company

We are pleased to announce this successful transaction. The business is a 30 year old company operated by the same 2 partners since it's inception. Both partners were ready to retire.

The sellers were referred to Sunbelt by Steve Drake a well known Houston, Texas financial planner and host of his own financial radio show call Money Matters.

The business specializes in the management of Homeowners Associations.

The buyer had experience in working for an association management firm and was able to finance the purchase with a very attractive bank loan from Allegiance Bank utilizing the SBA Loan Guarantee program. Gary Henderson managed the process for Allegiance Bank.

The buyer will assure the business lives on long past the time when the founders were able to operate the company.

We are proud to be a part of this transaction that enables long time business owners to realize the value created in their business and retire in the comfort they had worked so hard to earn.